Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
I was thinking FE, MP and eventually, IUL.
The MP market is crapped out... that's why I left it and got into FE...
Yeah, but it seems to be coming back pretty well now. We have an agency under us that does a ton of it over the past year (maybe two years now).
I've been with Symmetry for a couple months now. I started at a FE company but as a new agent did not do very well due to lack of training. Symmetry's focus on training and development and the availability of your upline makes it a great option for new agents. The "Rah-Rah" is also good for staying motivated, something which is often difficult for new agents and keeps them in the business.
I attended the national conference in January and I have to say I was impressed by the number of people who were solid producers. Out of 1,500 attendees, over 70 were Agency Owners (50K AP/Month + 7 writers) with many more soon to be. Over half of the attendees were probably new, so this looks like good odds to me.
This will be my second week of over 4k in AP. I still work full time at another job so I am limited with what I can give to SFG. I can say that I've listened to the audios obsessively and went to every training event and I've done what I've been told. I have 4 agents in the process of getting their license so this will help raise my commission levels.
Simplified issue obviously pays the fastest, so that is what we want to write the most of. It's also often best for the client. There are times, however, when full underwriting is necessary, so this lengthens the pipeline a bit but once it starts coming out the other end I should be ready to quit my job and go full time with Symmetry.
I know there are a lot of criticisms of this model. But I personally know quite a few "bottom tier" agents who are doing pretty good for themselves. If you want to build your own agency, you can do far better. If you just want to produce and not build, SFG may not be the place for you. The low starting contract pays off in the long run when you are collecting overrides.
----------
Also, some of the math elucidated previously is off. Let me correct. Let me also say that the only thing that keeps people from earning 6 figures a year with Symmetry is their own lack of desire or effort. Not everyone wants to make 6 figures. That's ok. But for anyone who does, here is the blueprint.
$325/week in leads (10 new A leads and 8 $5 leads with 50 Fifty cent leads) will yield 15 appointments if you make the required number of dials.
15 appointments will yield 10 sits. A beginning agent should be closing at least half of his sits, so we'll say 5 apps. Average AP is about $1,000. Assuming a 90% issue rate (should be easy if you're calling for risk assessments) you have $4500 in AP weekly. Assuming a persistency of 90%, we can round down to $4,000 in weekly issue/paid AP.
$4,000 per week in AP at an entry level 60% is $2,400. With a 75% advance it's $1,800. Minus the $325 you spent on leads, you have a weekly income of $1,475 X 50 weeks is $73,750 advanced. The remaining $30,000 that wasn't advanced will be paid in months 10, 11 and 12 which will bring you to an annual income of $103,750.
However, if you're doing $5,000 in written AP per week, you will easily hit the $25,000/month a couple times which will bring you up to an 80% contract level.
$4,000 (issue paid) X 80% contract is $3,200 X 75% advance is $2,400 weekly - $325 in lead costs = $2,075 weekly income. X 50 weeks is $103,750. The remaining 25% of the $3,200 is paid in months 10-12 which is an additional $40,000 for a total annual income of $143,750.
Could the same number of sales earn more money with a different company at a higher contract? Yes, but only if you had a source of good leads for a good price that will let you set 15 appointments a week. The numbers get even better once you have hired a few agents who contribute to your monthly APV, thus pushing your contract level higher and you start earning overrides as passive income.
Hope this is clear and you have found it helpful.
I've been at SFG for about two years.I responded to a Craigslist job posting and was contacted by Lynn Watkins from Symmetry Financial Group. I did a search and found this thread. Does anybody have any updated info on them? If they sued NAA then they must have not liked the way they operated and so I would assume the would not conduct their business the same way.
I've been at SFG for about two years.
I'll preface this by saying that just like any company, it won't be a fit for everyone. You have to be the type of person who has internal drive, can listen and wants to grow. Lynn Watkins is a fantastic guy, and if you have the opportunity to work with him you should. He's not my upline, but he's always been willing to take the time to talk with me and coach me if I ask.
I have noticed on this board that most of the negative comments come from people who haven't spent any time working here. I wonder why that is?
I left an insurance company where I had a 100% contract to come to SFG, and I still made more in my first 3 months than I had in the entire previous year. The leads are quality and affordable, the numbers they recommend work, and the training is miles above any sales training I've gotten in either insurance or real estate. I made about 90k in my first full year, not everyone does that, but many do more. I don't know who posted an ad saying the "average" agent writes 6-10 apps a month because I've never seen the company claim that. I averaged 4.5 apps over the 52 weeks in 2016.
As far as recruiting goes, some people decide to start recruiting right away, some wait years, some never do. It's entirely up to that individual.
But most importantly, this is the best company culture I've ever experienced. Even Entrepreneur Magazine rated us as one of the best company cultures in the country. I never thought I would get into insurance, but I'm going to stay with this company forever if they'll have me.
I've been at SFG for about two years.
I'll preface this by saying that just like any company, it won't be a fit for everyone. You have to be the type of person who has internal drive, can listen and wants to grow. Lynn Watkins is a fantastic guy, and if you have the opportunity to work with him you should. He's not my upline, but he's always been willing to take the time to talk with me and coach me if I ask.
I have noticed on this board that most of the negative comments come from people who haven't spent any time working here. I wonder why that is?
I left an insurance company where I had a 100% contract to come to SFG, and I still made more in my first 3 months than I had in the entire previous year. The leads are quality and affordable, the numbers they recommend work, and the training is miles above any sales training I've gotten in either insurance or real estate. I made about 90k in my first full year, not everyone does that, but many do more. I don't know who posted an ad saying the "average" agent writes 6-10 apps a month because I've never seen the company claim that. I averaged 4.5 apps over the 52 weeks in 2016.
As far as recruiting goes, some people decide to start recruiting right away, some wait years, some never do. It's entirely up to that individual.
But most importantly, this is the best company culture I've ever experienced. Even Entrepreneur Magazine rated us as one of the best company cultures in the country. I never thought I would get into insurance, but I'm going to stay with this company forever if they'll have me.
I too was at Symmetry and was very successful, unfortunately, I couldn't lay my head down at night knowing I was trying to convince an agent (aka, get them to drink the kool-aid) to come in on a 60% contract and actually be able to make it. I did very well, but it is because of my past experiences and closing ability. Many new agents don't come into insurance possessing those skills.